FBR kicks off nationwide campaign against tax evaders and money launderers

ISLAMABAD: In the hopes of complying with the requirements of the Financial Action Task Force (FATF), the Federal Board of Revenue (FBR) has kicked off a nationwide campaign against tax evaders and money launderers on Friday, The News has reported.

According to the publication, the campaign is being led by the newly appointed Director General Intelligence and Investigation (Inland Revenue) Dr Bashirullah Khan on the directions of FBR Chairman Shabbar Zaidi. 

Since Khan's appointment, FBR’s regional directorates in Faisalabad, Multan, Peshawar and Islamabad have carried out multiple raids against tax evaders in different sectors of the economy, said The News.

'Money launderers' caught with billions

Apart from the raids, FBR’s Hyderabad Directorate has lodged three complaints before a court of a special judge under the Anti Money Laundering Act, 2010.

Also read: FBR instructs bakers, sweet marts to integrate sales: report

After thorough investigation, the FBR has identified the money-laundering suspects, Hikmat, Nafay and Hayat, who have been caught with bank deposits higher than what they have declared.

From 2014 to 2018, Hikmat declared receipts of Rs1.5 million but filed zero income tax. His bank credits, on the other hand, showed more than Rs105 million in his account.

Likewise, Nafay in the same period declared receipts of Rs3.3 million and paid no income tax, but the suspect's bank credits showed deposits of Rs6.62 billion. 

Similarly, Hayat declared receipts of Rs1.4 million and filed Rs51,000 as income tax, but his bank credits showed a sum of Rs1.97 billion in his account.

Also read: FBR reopens investigation into sales tax refund scam: report

Sales tax evaders nabbed 

Meanwhile, the Faisalabad Directorate carried out raids against two engineering sector firms in Sargodha who were found to have allegedly been evading sales taxes. 

According to The News, Ashraf Engineering Works and Haider & Brothers Engineering Works are being investigated by the FBR for tax evasion.

The Multan Directorate also raided the premises of the Malik Plastic Factory, who are also allegedly evading sales tax. 

The directorate claimed that the business was paying electricity bills worth Rs11.7 million in a single year and producing goods worth approximately Rs60 million without paying any sales tax.

The Islamabad Directorate separately carried out a raid against M/s Saqib, a leading uniform maker, after finding out that the suspect was allegedly evading taxes.